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2.4.1.A2

TakeaChanceTracking

TotalPointsEarned

Name

TotalPointsPossible

Date

Percentage

Class

Part1:MyIncome
Congratulations,itspayday!YouworkfulltimeatIndulgenceBakeryearning$10.25perhourandworking40
hoursperweek.Youarepaidmonthlywithdirectdepositintoyourdepositoryinstitutionaccount.Useyour
paycheckstubtoenteryourgrossincomeanddeductionsonyourincomeandexpensestatement.

EmployeeInformation

PayDate:
6/11/2013

Name

IdentificationNumber

Address

PayRate

PayPeriod

YourName

00112233

YourAddress

$10.25

5/15/31/2013

Summary

GrossIncome

TotalPersonalDeductions

NetIncome

Current

$1,640.00

$473.81

$1,166.19

YTD(year
todate)

$8,200.00

$2,369.05

$5,830.95

Earnings
Type

Rate

Hours

Current

YTD

Regular

$10.25

160

$1,640.00

$8,200.00

Deductions
Type

PersonalDeduction

EmployerContribution

Federalincometax

$181.35

Stateincometax

$29.00

SocialSecurity

$101.68

$101.68

Medicare

$23.78

$23.78

Retirementplan

$50.00

$50.00

Healthinsurance

$88.00

$325.00

Workerscompensation

$11.80

Unemploymentinsurance

$4.26

TakeChargeTodayAugust2013ChoosetoSave
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Page|16
2.4.1.A2

Part2:MySpending
1. Youusedanapplicationonyourphonetocreateanelectroniclistofallexpenses.Identifythecategory
eachexpensewouldbeintheincomeandexpensestatement.
2. Usethisinformationtoupdateyouractualspendingcolumnonyourincomeandexpensestatement.
3. Onceyouhaveenteredalloftheincomeandexpenses,calculatetheexpensetotalandnetgainorloss.
4. Calculatethedifferenceforeachcategoryinthedifferencecolumnonyourincomeandexpense
statement.

Company
Amount
IncomeandExpense
StatementCategory
WhereILive
$325.00

housing
costs
TownandCountyGrocer
$25.30
food costs
KeeptheLightsOnUtilityCompany
$48.20

housing
costs
QuickStopFuel
$48.90
transportation costs
EdwardsPizzeria
$13.50

food
costs
ProSportingEvents
$52.00
entertainment
LovetoDriveAutoSales
$160.00

transportation
costs
KeepingYourCarInsured
$42.00

insurance
JJsTrendyClothing
$48.00

clothing
and personal care
TownandCountryGrocer
$84.60

food
costs
comunication
and computor costs
TalkallNightCommunications
$70.00

SavingsAccount
$40.00
savings and investments
QuickStopFuel
$52.70

transportation
cost
TheAllInclusiveConvenienceStore
$17.38
food costs
TownandCountyGrocer
$32.00
food costs
TheMongolianBBQ
$23.50

food
costs
HeartsandHomesCharityDonation
$50.00

giving

ReflectonyourMayIncomeandExpenseStatement:
5. Howmuch,ifany,moneydidyouhaveleftattheend?Whatwouldyouusethatmoneyfor?

6. Youhaverealizedthatyouwanttostartsavinganadditional$45eachmonthforanewtablet.Whatare
atleasttwowaysyouwouldadjustyourcurrentspendingtofreeupthe$45?Whatarethetradeoffsto
eachspendingadjustment?

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Page|17
2.4.1.A2

IncomeandExpenseStatementfor:
TimePeriod:

Income
EarnedIncome
Wagesorsalarybeforedeductions
Commissions/tips/bonuses
UnearnedIncome
Moneyfromsavingsandinvestmentstohelppay
expensesduringthistimeperiod
Scholarshipsfromnongovernmentsources
TotalIncome
Expenses
DeductionsOftenTakenfromPaychecks
FederalandStateIncometax
SocialSecurity
Medicare
SavingandInvesting(PayYourselfFirst)
Contributiontoemergencysavings
Contributiontosavingsforafinancialgoal
Retirement
InsurancePremiums
Healthinsurance
Automobileinsurance
Lifeinsurance
HousingCosts
Housingpayment(rentormortgage)
Utilities(gas,electricity,water,garbage)
TransportationCosts
Carpayment
Fuel(gasoline/diesel)
Automobilerepairsandmaintenance
FoodCosts
Foodatthegrocerystore
Mealsatrestaurants
Other:
CommunicationandComputers
Cellphone
MedicalCostsNotCoveredbyInsurance
Medicalcareandmedications
ClothingandPersonalCare
Clothing
Personalcare(shampoo,haircuts,cosmetics,
laundry,etc.)
EducationalExpenses
Tuitionforprivateschoolorhighereducation
Entertainment
Movies,books,toys,andotherentertainment
CreditCosts
Creditcardpayment
Giving
Donations
TotalExpenses
NetGainorNetLoss(IncomelessExpenses)

You!
May131st
ActualAmount
Spent

SpendingPlan

Difference

$1640.00 1640.00

0.00

$1640.00

$210.35
$101.68
$23.78

$40.00
$0.00
$50.00

$88.00
$42.00
$0.00

$325.00
$50.00

$160.00
$110.00
$30.00

$135.00
$54.19
$0.00

$70.00

$0.00

$50.00
$25.00

$0.00

$75.00

$0.00

$0.00
$1640.00
$0

48.00

0.00
0.00
0.00

0.00
0.00

0.00

88.00

0.00
0.00

0.00

1.80

0.00
8.40
30.00

-24.28
17.19
0.00

0.00

0.00

2.00

0.00

210.35
101.68

23.78

40.00

0.00

50.00

0.00

42.00

0,00

325.00

48.20

160.00
101.6
0.00

159.28
37.00

0.00

70.00

0.00

0.00

52.00

0.00

50.00

25.00

0.00

23.00

0.00

-50.00

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Page|18
2.4.1.A2

Part3:TakeaChance
7. Often,unexpectedexpensesandsituationsmayarise.DrawaTakeaChanceCardandrecordyour
eventhere:
you need a new pair of shoes for a job interview 60$

Part4:Reflection
8. Baseduponyourcurrentspendingforthemonth,howwillyoupayforthisexpense?

9. Ifyoudidnothavesavings,howwouldyouhavepaidforthisexpense?
take money from somewhere else and spend it on this

10. Wastheunanticipatedexpenseaneedorwant?Whatalternativescouldyouchoosetoavoidspending
moneyontheexpense?

11. Whyisitimportanttopayyourselffirstwhencreatingaspendingplan?

TakeChargeTodayAugust2013ChoosetoSave
FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona